One Virginia congressman is very “concerned” by a plan to expand offshore drilling.
Democratic Rep. Donald McEachin slammed the Trump White House on Monday for supporting the National Outer Continental Shelf Oil and Gas Leasing Program, despite growing bipartisan opposition.
“The Republican mayor of Virginia Beach has come out against it. Many Republicans in our city have come out against this plan,” he told Cheddar Monday. “What I really think it shows is that the Trump Administration is tone-deaf when it comes to issues like offshore drilling."
The proposed program, helmed by Interior Secretary Ryan Zinke, was unveiled in January and opposition is picking up steam. Virginia governor Ralph Northam, another Democrat, is meeting with environmental groups Monday to discuss their concerns.
The plan looks to open up more than 90 percent of U.S. continental waters for drilling and exploration. It diverges from an Obama era policy which set offshore drilling limits in efforts to protect the environment.
McEachin, a member of the House Committee on Natural Resources, said during the interview that Zinke’s bill will not benefit his constituents and could instead kill some 91,000 jobs.
For President Donald Trump, tariffs — or the threat of them — can bend nations to his will.
President Donald Trump said he has decided to lower his combined tariff rates on imports of Chinese goods to 47% after talks with Chinese leader Xi Jinping on curbing fentanyl trafficking.
The Federal Reserve cut its key interest rate Wednesday for a second time this year as it seeks to shore up economic growth and hiring even as inflation stays elevated. The move comes amid a fraught time for the central bank, with hiring sluggish and yet inflation stuck above the Fed’s 2% target. Compounding its challenges, the central bank is navigating without much of the economic data it typically relies on from the government. The Fed has signaled it may reduce its key rate again in December but the data drought raises the uncertainty around its next moves. Fed Chair Jerome Powell told reporters that there were “strongly differing views” at the central bank's policy meeting about to proceed going forward.
U.S. and Chinese officials say a trade deal between the world’s two largest economies is drawing closer. The sides have reached an initial consensus for President Donald Trump and Chinese leader Xi Jinping to aim to finalize during their high-stakes meeting Thursday in South Korea. Any agreement would be a relief to international markets. Trump's treasury secretary says discussions with China yielded preliminary agreements to stop the precursor chemicals for fentanyl from coming into the United States. Scott Bessent also says Beijing would make “substantial” purchases of soybean and other agricultural products while putting off export controls on rare earth elements needed for advanced technologies.
A new poll finds most U.S. adults are worried about health care becoming more expensive.
The White House budget office says mass firings of federal workers have started in an attempt to exert more pressure on Democratic lawmakers as the government shutdown continues.
